Region: Colombia

An ICSID tribunal has partly upheld claims by an Australian-owned company in a US$440 million dispute with Colombia over mining royalties, as a dissenting arbitrator complains that an order to indemnify the investor for future damages infringes the state’s sovereignty.

25 June 2024

In an unusual decision, Colombia’s Supreme Court has refused to recognise a US$1.7 billion investment treaty award against Venezuela on the basis that the state enjoys immunity from execution. 

24 June 2024

A tribunal has rejected a Canadian investor’s US$180 million claim against Colombia over a ban on mining operations in high-altitude wetlands – one of three ICSID cases over the same environmental measures.

10 June 2024

Russia has warned Colombia it may pursue arbitration over maintenance contracts for military helicopters that were suspended following the invasion of Ukraine. 

23 May 2024

Ana María Ordóñez, the former director of the Colombian government department that defends the state in arbitrations, has joined Eversheds Sutherland as an of counsel based in Bogotá.

23 May 2024

An UNCITRAL tribunal has dismissed Colombia’s preliminary objections to a US company’s US$10 billion investment treaty claim over treasure in the wreck of a sunken Spanish galleon.

20 May 2024

UPDATED WITH AWARD: An ICSID tribunal has ordered Peru to pay US$91 million over a cancelled airport concession, as Uruguay is hit with a new claim by a port investor and Colombia is threatened by a healthcare company.

10 May 2024

Houston-based engineering multinational McDermott has discontinued an ICSID claim against Colombia over a troubled refinery project – weeks after a cross-border restructuring process discharged a billion-dollar ICC award and a US$718 million fine imposed on the company by a state agency. 

01 May 2024

An ICSID tribunal has found Colombia liable in a US$64.5 million claim by Glencore over access to a port facility – although the state says around 85% of the commodities trader’s damages claims were dismissed. 

23 April 2024

A Colombian-owned energy company has launched a US$56 million ICSID claim against Peru under a concession agreement for a gas distribution network.

02 April 2024